Horse Creek Academy Construction Financed JEDA Bonds
Aiken SC — Aiken County
Horse Creek Academy (formerly Midland Valley Preparatory School) is using $5,530,000, issued as series 2014A $5.335 million tax-exempt and Series 2014B $195,000 taxable revenue bonds from South Carolina Jobs-Economic Development Authority (JEDA) to finance its move from Graniteville to a new site in Aiken.
The Series 2014 bonds will be used to finance the acquisition of a 30-acre parcel of land and completion and outfitting of a partially completed, 53,000-square-foot building on Toolebeck Road.
The 12- year- old school currently has 24 existing employees and the bond that was expected to create nine new jobs within twenty-four months of completion of the project has to date created eleven.
Approximately 190 students attended K-5 through eighth grade at the former facility. The current facility houses two – three classes per grade level K5 through eighth grade, with a current enrollment of 337 students.
“We are excited to take the next major step in the growth of our school and are thankful this kind of public-private partnership was available to make it happen.”
– Executive Director Patti Strom
“We know the difference that school improvement makes in the community’s ability to educate its children and we feel privileged to be able to have some small part in it,” said Bond Counsel Mitchell Johnson with Haynsworth Sinkler Boyd, P.A., in Charleston.
“Our work with education projects goes back decades and we’re excited to be able to continue to help finance such infrastructure so crucial to the future of all South Carolinians,” said Harry A. Huntley, CPA, Executive Director of JEDA in Columbia.
